Denver-based Broe Real Estate Group has launched a $250 million fund to assist cash-strapped commercial real estate properties in the Western US.
BREG, an affiliate of The Broe Group, is calling the fund its Strategic Investments Program, and it is designed specifically to mitigate disruptions in cash flow experienced by real estate properties affected by the COVID-19 outbreak.
The fund is hoping to provide much needed capital for under construction industrial, office, medical office, multi-family, hospitality, and retail properties, the group said in a release.
The group said its decades of experience allows it to be uniquely positioned to enable "the consideration of complicated distressed projects that find themselves locked out of traditional capital markets."
According to a press release, the fund is targeting individual transactions in the range of $20 million to $100 million and requiring a minimum equity requirement of $10 million. The fund said it will consider larger transactions as well.
The initial phase of investments will target companies in the Western United States and will prioritize "highly quality markets, assets and partners."
As an all-cash buyer, BREG is in a strong position to close quickly and provide immediate assistance to properties that need cash now, the press release said.
BREG, which has invested over $2.8 billion in capital over the past 40 years, also claims expertise in operations and capital markets along with its deep roster of relationships in the real estate space.
The Broe Group, the umbrella entity for BREG, also has affiliates in the energy and transportation verticals. In addition to BREG, the group also has additional investment affiliates such as Three Leaf Ventures, which focuses on innovative healthcare startups.
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Patrick Smith
Patrick Smith, based in New York, covers the business of law, including the ways law firms compete for clients and talent, M&A and corporate work, leadership and marketing innovation. Reach him at [email protected] or on Twitter at @nycpatrickd
